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Advice for Buyers

Determine Your Individual Needs

The reasons for buying a property vary widely from one person to another. It is therefore extremely important to discuss your individual needs with your real estate broker before visiting a property.

Before making an appointment with your real estate broker, draw up a list of features you deem important and determine your individual needs such as locality, price, type of property, number of bedrooms, surroundings, public utilities, and so on.

Check with your financial institution to find out how much you can afford to carry as a mortgage and have the loan amount preauthorized.

Talk to a RE/MAX Broker

Once you have analyzed your individual needs, talk to your neighbourhood RE/MAX broker. If you are moving out of the area in which you currently reside, your local broker will be able to refer you to a professional RE/MAX broker in the area of interest to you.

If you do not know a local RE/MAX broker, click here to find the closest agency to your home or to the desired location. They will refer you to a broker, without any obligation from your part.

Checklist for Visiting a Property

Here is a checklist to use every time you visit a property. It will assist you in comparing the different properties you visit and help you decide which property is best suited to your needs.

Checklist

Date of visit:

Address:

Location:

Property type:

Excellent

Satisfactory

So-so

Yard

Area

Landscaping

Fence

Exterior

Insulation

Doors and windows

Roof and eaves troughs

Garage

Services

Schools

Daycare

Public transit

Parks

Shopping centre

You’ve Found Your Dream House?

Remember to notify current service providers prior to moving and to take action as required when settling into your new location.

Public Utilities

Electricity

Gas

Water

Garbage collection

Telephone

Cable television

Heating fuel

Local services and accounts

Banks

Finance companies

Credit cards

Diaper service

Current accounts

Retail stores

Milk delivery

Bread delivery

Laundromat

Dry cleaner

Pharmacy

Shoe repair

Community services

Schools

Library

Professionnals

Doctor

Dentist

Notary

Broker

Insurance

Life

Accident

Personal property

General public liability

Social

Commercial and professionnal

Federal Government

Post office

Veteran’s affairs

Income tax office

Family allowance

Old age security

Employment insurance

Provincial Government

Health and hospitalization insurance

Quebec pension plan

Vehicle registration

Driver’s licence

Pension plan

Moving Day Checklist:

Read all meters

Lower or turn off heating

Turn off all lights

Shut and lock all doors, latch all windows

Turn over keys to new occupants

Have telephone disconnected

Take out all garbage

Possible Expenses When Buying a Property

Inspection of property by building expert

Mortgage arrangements with bank :

Conventional loan (20 % cash)

Loan insured by CHMC (less than 20 %)

Deposit to accompany Offer to Purchase

Possible Expenses When Signing at the Notary

Deposit to accompany Offer to Purchase

Tax redistribution and refunds:

Refunds are calculated from the date of the signing of the deed of sale. You are responsible for reimbursing the seller for the number of days paid to date.

Municipal taxes

School taxes

Heating oil tank:

The seller is required to have the tank filled on the day of the signing of the deed of sale and submit the invoice to the notary for reimbursement in full by the buyer.

Electricity meter (Hydro Québec):

The buyer and the seller must notify Hydro Québec of the date the property is scheduled to change hands, have the meter read, and ensure that all amounts owing are properly allocated.

Homeowner insurance:

Upon signing of the deed of sale, you must present proof that you have contracted homeowner’s insurance in an amount equal to or greater than the mortgage on the property.

Possible Expenses Once the Deed of Sale is Signed

Land Transfer or Welcome Tax

The municipality in which you settle will bill you within four (4) to six (6) months of the signing of the deed of sale in an amount based upon the selling price and scaled as follows: